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Chancellor Begs Bofe Not To Curb Or Hinder Growth

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http://www.ft.com/intl/cms/s/0/5bd92878-b1b2-11e2-9315-00144feabdc0.html#axzz2RzJjQkQj

Is this the same man who in 2009 lectured Labour:

In 2009 Osborne, then shadow Chancellor, slammed Labour Chancellor Alistair Darling's emergency plan to print more money.

Osborne said at the time: "The very fact that the Treasury is speculating about printing money shows that Gordon Brown has led Britain to the brink of bankruptcy.

"Printing money is the last resort of desperate governments when all other policies have failed.

http://www.ifaonline.co.uk/ifaonline/news/2115040/bank-expands-qe-programme-gbp75bn

POLITICS+Sc_14.jpg

Wasn't me, Guv'nor!

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Osborne should be ashamed. I like to think this is why he was crying at Thatcher's funeral but I doubt it.

I never thought I'd miss Brown.

Of course, before I'm accused of bias, Ali promised in '09 he'd not print either: http://news.bbc.co.uk/2/hi/uk_news/politics/7817623.stm

Chancellor Alistair Darling has denied he is planning to "print money" in an effort to tackle the downturn.

On Wednesday, he told the Financial Times newspaper he was considering a policy of "quantitative easing" to increase money supply to the economy.

He has now said he is looking at "a range of measures," but "nobody is talking about printing money".

Edited by inflating

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Additional links

http://

washpost.bloomberg.com/Story?docId=1376-MM2G6Y6TTDW901-4E8G48T13OSPIE7MVGCIO1IBI5

http://

www.bloomberg.com/news/2013-04-30/osborne-tells-boe-to-support-growth-in-financial-policy-remit.html

http://

rnn.cabinetoffice.gov.uk/Press-Releases/Government-provides-Financial-Policy-Committee-with-first-remit-68b99.aspx

Seems like the new FPC remit is so open to interpretation that it's going to require constant clarification and guidance by the Chancellor. Then there's the new remit for the MPC.

The first symptoms of severe *remititus are beginning to show.

It sounds almost as bad if not worse (if that were possible) than Brown's BoE reorganisations.

* remititus - excess of remit resulting in the remitter's proposals being even vaguer than before the remit(s).

Edited by billybong

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By not hinder growth he means not to allow the necessary correction and allowing the economy return to growth. No doubt this is why the Conservative Party appointed another nut case to head the BOE when Merv the Insane leaves. They are as bad as Gordon Brown was. Maybe even worse, as Gordon at least didn't want to see people begging in the street and eating out of dustbins.

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They are as bad as Gordon Brown was. Maybe even worse, as Gordon at least didn't want to see people begging in the street and eating out of dustbins.

He did. It was just a bin labelled tax credits.

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By not hinder growth he means not to allow the necessary correction and allowing the economy return to growth. No doubt this is why the Conservative Party appointed another nut case to head the BOE when Merv the Insane leaves. They are as bad as Gordon Brown was. Maybe even worse, as Gordon at least didn't want to see people begging in the street and eating out of dustbins.

Gordon was happy to tolerate the possibility as collateral damage in his pursuit of a never-ending debt-fuelled economic miracle. We're still counting the cost of that approach now, especially since Osborne seems keen to carry on the work of a man who he obviously regards (in actions if not words) as his policy guru.

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Gordon was happy to tolerate the possibility as collateral damage in his pursuit of a never-ending debt-fuelled economic miracle. We're still counting the cost of that approach now, especially since Osborne seems keen to carry on the work of a man who he obviously regards (in actions if not words) as his policy guru.

can you name any chancellor,PM,king,tsar,leader,special flower etc etc in history that hasnt run a debt fuelled economy when given a choice?

Youve got 5000 years of recorded history to choose from, take your time

Edited by georgia o'keeffe

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Independent

Unfortunately in the Democratic Republic of UKea you arent allowed to be independent, despite the majority of the electorate for over 20 years democratically (ie the majority) choosing no special flower, Western Democracy demands that your democratic choice is removed if you dont mandate a special flower you dont actually know to make decisions for you

The concept of representing yourself alone is frowned upon and refused in the Democratic republics of NKorea and UKea alike

Edited by georgia o'keeffe

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Independent

I'm sure I remember Gordon Brown praising himself for making the BoE independent and within a sentence, was praising himself again for the coordinated drop in interest rates. The guy was crazy. Insane.

The Gidiot is just that. An idiot who through family and/or private school boys network has got to job he should never be anywhere near. (A lot of bankers like that too). He's out of his depth and only listening to the 'cleverer' boys acting on their own self interest.

Whoever is in charge, this is all going to crash. I suspect it'll take me with it.

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I reckon John Major had a pretty good run at it, he did almost nothing, no tinkering, meddling, manipulating to any great degree, just let the economy heal after the diastrous 80's blowoff.

Edited by OnlyMe

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I reckon John Major had a pretty good run at it, he did almost nothing, no tinkering, meddling, manipulating to any great degree, just let the economy heal after the diastrous 80's blowoff.

you mean he just let private companies accumulate debt in the telecoms boom, being a politician is no different to an investor, as long as its the right time everyones a winner

For every prejudice you have against Labour fcking you over, there is an equal and and opposite prejudice that has the same belief against the tories

At some point labour and conservative and liberal and UKIP and Green supporters will realise that theres fck all difference that any of them can make to a debt cycle

Edited by georgia o'keeffe

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can you name any chancellor,PM,king,tsar,leader,special flower etc etc in history that hasnt run a debt fuelled economy when given a choice?

Youve got 5000 years of recorded history to choose from, take your time

Kenneth Clark under Major ran a budget surplus I believe.

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"Printing money is the last resort of desperate governments when all other policies have failed.

All the Tories other policies have failed.

That's rather the point.

Light touch regulation and pump up the volume. Bingo bongo.

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The problem is that the objective is not sorting out the economy, but winning the next GE. If the Tories passed through the tough stuff to sort it out, there would be riots in the streets, general strikes etc. So they've tried to do it as gently as possible and even then they've made few friends, if you think they are bad, wait till after the next GE and the monkeys that got us in this mess take over. ;)

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I'm sure I remember Gordon Brown praising himself for making the BoE independent and within a sentence, was praising himself again for the coordinated drop in interest rates. The guy was crazy. Insane.

The Gidiot is just that. An idiot who through family and/or private school boys network has got to job he should never be anywhere near. (A lot of bankers like that too). He's out of his depth and only listening to the 'cleverer' boys acting on their own self interest.

He spent a week folding towels in Selfridge's, man of the people and all..

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I never thought I'd miss Brown.

Of course, before I'm accused of bias, Ali promised in '09 he'd not print either: http://news.bbc.co.uk/2/hi/uk_news/politics/7817623.stm

Chancellor Alistair Darling has denied he is planning to "print money" in an effort to tackle the downturn.

On Wednesday, he told the Financial Times newspaper he was considering a policy of "quantitative easing" to increase money supply to the economy.

He has now said he is looking at "a range of measures," but "nobody is talking about printing money".

Everyone condemns money printing when they are in opposition (because it's a bloody stupid idea and destroys the wealth of the typical person).

However, once they get into power it's a great way to get free money and balance the books - so they do an about turn.

Standard political practice ... when you are in opposition then you come out with sensible stuff that gets people to vote for you. Once you are in the hot seat you do what's right for yourself and screw the country.

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The problem is that the objective is not sorting out the economy, but winning the next GE. If the Tories passed through the tough stuff to sort it out, there would be riots in the streets, general strikes etc. So they've tried to do it as gently as possible and even then they've made few friends, if you think they are bad, wait till after the next GE and the monkeys that got us in this mess take over. ;)

What would the tough stuff actually be, though?

Hell, in Spain they've got unemployment up to 25% and it dosen't seem to be helping.

I have asked in other threads how people expect cuts to reduce the deficit* without getting a particularly convincing answer.

*When unemployment is already high.

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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